Kevin Amolsch is an investor and a private lender who has participated in more 1,500 transactions. PineFinancialGroup.com

Shutterstock

I started investing in real estate at a young age; I was just turning 22 when I purchased my first home. Within two years, I had purchased another and could see the tremendous benefits of real estate investing. I felt sure at that young age that real estate was my ticket. Fifteen years later, having participated in thousands of deals and helping hundreds of people — all while building wealth and growing a business — I know I was right. Experiences both within and outside of my work in real estate have taught me much about how to be a successful investor.

Riding bulls was no exception. At age 18, the fear was almost overwhelming as I stood behind the bucking chutes at the high school state finals rodeo. It was my last competition of the year and the first time my dad would see me ride. I happened to draw the largest and meanest bull in the entire pen — others who had attempted to ride him explained what to watch out for, and none of it sounded good. This is the kind of bull that would score big if you could stay on, or it could crush you. As I heard the announcer call my name, I could literally see my heart beat through my shirt. I was scared. I looked down at the bull underneath me, squeezed hard and called for the gate to open.

As it turns out, bull riding and real estate investing aren't all that different. There are three key lessons I learned from and relied on heavily to achieve success with both.

When you fall, you better get up quick.

When you come off a bull in the rodeo arena, you better get up. Real estate investing is no different. There will be times when you fall. Your success as an investor will come down to how quickly you get back up. Real estate, like any business, has its challenges. You will be forced to take some risks and, sometimes, you will fail.

In one large land development deal, we were having trouble with the city. Officials were being unreasonable with some of their requests and all we heard was "no." Many times I wanted to give up the project, but I had already invested $1 million of my and my investors' money. The payments on our loan continued and the thought of failing my investors kept me in the game. Each time we hit a roadblock, I rebounded quickly and kept going. After unrelenting efforts, we finally got the project going. Now, it's almost completed and everyone is going to come out in the black. My investors appreciated my resilience and have already committed to investing with me again.

In these situations, it comes down to this: The faster you acknowledge your setbacks and recover from them, the more you will learn from your mistake and the better off you will be. Success as an investor takes hard and consistent work. This is a business about momentum and when you stop, you lose momentum. Don’t let a fall stop you completely.

Focus on winning, not on getting hurt.

When I started riding bulls it was about the challenge, of course, but it was also about the lifestyle. In the beginning, I was more concerned with getting out of there without an injury than I was with being competitive. Because of that, I sustained injuries and was unsuccessful. Once I shifted my focus toward winning, I started improving.

In real estate, there is always the risk of pain. Although this pain is not typically physical, it is still very real. Pain could occur when you pay too much for a deal that does not end up performing as expected, or when you are doing a rehab and find a bigger problem then you expected. I see many investors so nervous about pitfalls that they never get into a deal. Winning in real estate means participating in profitable deals. It is also important to be careful and limit your downside, but a simple shift in focus could mean the difference between making it or not. What you focus on tends to become real, so I would encourage you to focus on being successful in your investments.

Enjoy the entire rodeo, not just the ride.

As a bull rider, I loved the experience — the thrill, the challenge, the rewards. I also love the lifestyle. Some of my closest friends that I still have today came from this time in my life. When we went to a rodeo, we went together. Long drives and overnights were common. We would sleep in cheap hotels if we were lucky, but we normally ended up in a tent or the bed of a truck. It was fun to get to the fairgrounds and hang out with other competitors.

Many investors are so focused on a deal that they don’t enjoy the life they are creating. This business is so much more than a deal. The passive income you can earn creates freedom. You can take time off to enjoy the lifestyle. In this business, too, I have made some great friends doing deals or at educational seminars. We connect because we have a similar mindset and drive. It is not a competition when we choose to work together. Although mine is not an educational company, we dedicate a large amount of our resources to helping investors. Spending our time in support of others also brings a tremendous joy. To watch someone become successful and to participate in that success creates a feeling like nothing else.

The business of real estate investing can lead to untold success for dedicated investors. Although you need to work hard, you should be sure to enjoy the rodeo, too.